Dorsey & Whitney Trust CO LLC Grows Stock Position in Public Storage $PSA

Dorsey & Whitney Trust CO LLC lifted its stake in Public Storage (NYSE:PSA) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,158 shares of the real estate investment trust’s stock after buying an additional 143 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Public Storage were worth $347,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. MML Investors Services LLC increased its holdings in Public Storage by 2.9% during the 4th quarter. MML Investors Services LLC now owns 21,196 shares of the real estate investment trust’s stock valued at $6,347,000 after purchasing an additional 603 shares during the period. Pinebridge Investments L.P. purchased a new position in Public Storage during the 4th quarter valued at about $333,000. MGO One Seven LLC increased its holdings in Public Storage by 67.1% during the 4th quarter. MGO One Seven LLC now owns 2,459 shares of the real estate investment trust’s stock valued at $736,000 after purchasing an additional 987 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in Public Storage by 6.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 13,608 shares of the real estate investment trust’s stock valued at $4,075,000 after purchasing an additional 881 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings in Public Storage by 4.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,361 shares of the real estate investment trust’s stock valued at $1,306,000 after purchasing an additional 186 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 2.3%

PSA stock opened at $293.48 on Friday. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The business’s 50 day moving average price is $287.75 and its two-hundred day moving average price is $294.54. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $51.49 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 4.76 and a beta of 0.86.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business earned $4.23 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PSA. Barclays reduced their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Royal Bank Of Canada reduced their price target on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. Evercore ISI boosted their price target on Public Storage from $308.00 to $309.00 and gave the company an “in-line” rating in a report on Monday, August 4th. Bank of America boosted their price target on Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $335.43.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.